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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jul. 01, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 68 $ 105
Accounts receivable, net of allowances for doubtful accounts of $1 each as of July 1, 2023 and December 31, 2022 663 768
Inventories, net 864 860
Income tax receivable 20 26
Prepaid expenses and other current assets 138 124
Total Current assets 1,753 1,883
Property, plant and equipment, net 301 278
Right-of-use lease assets 173 156
Goodwill 3,895 3,899
Other intangibles, net 578 630
Deferred income taxes 441 407
Other long-term assets 315 276
Total Assets 7,456 7,529
Current liabilities:    
Current portion of long-term debt 166 214
Accounts payable 562 811
Accrued liabilities 583 744
Deferred revenue 443 425
Income taxes payable 16 138
Total Current liabilities 1,770 2,332
Long-term debt 2,042 1,809
Long-term lease liabilities 157 139
Deferred income taxes 75 75
Long-term deferred revenue 331 333
Other long-term liabilities 89 108
Total Liabilities 4,464 4,796
Stockholders’ Equity:    
Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued 0 0
Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares 1 1
Additional paid-in capital 580 561
Treasury stock at cost, 20,818,920 and 20,700,357 shares as of July 1, 2023 and December 31, 2022, respectively (1,859) (1,799)
Retained earnings 4,330 4,036
Accumulated other comprehensive loss (60) (66)
Total Stockholders’ Equity 2,992 2,733
Total Liabilities and Stockholders’ Equity $ 7,456 $ 7,529